How Big Data Analytics will alter the way we use ENERGY
How Big Data Analytics will alter the way we use ENERGY
Published on May 25, 2015
Romit JainFollowRomit Jain
Associate Manager - Solutions and Products at Brillio Technologies
Have you ever reflected back on the activities you do to reduce your impact on environment?
It could be using electric car to work, switching off appliances when they’re not in use or turning the water off while shaving.
But do these small activities really make any difference?
As a matter of fact, average electricity consumption in U.S. homes declined to its lowest level in 2013 since 2001.
Do we really need to be Energy Efficient?
It`s time we accept the fact that world needs to be more energy efficient in order to reduce pollution and carbon emissions, and to satisfy growing energy demand from the ever-increasing global population. Unfortunately, world is running out of fossil fuels, which are the main resources used for energy generation. Following this world is moving towards renewable resources to meet all our power needs. However, as of today we still face many challenges to use renewable power as our primary source to generate energy.
This situation is untenable, and change is imminent. The efforts we make in our everyday life towards changing our energy consumption behavior certainly lessen the pressure. But in order to profoundly transform the way we generate, distribute and consume energy, we also need to turn to technology. Emerging big data analytics technologies, which have taken hold in organizations worldwide over the past several years, will be a major driver of that transformation.
Here is what the industry thinks:
According to the NIST, estimated cost savings from smart grid implementation measures up to $2 Trillion by 2030
The American Council for Energy Efficient Economy envisions that if we were to take full advantage of system efficiencies, energy usage could be reduced by up to 22 percent, which means savings of billions of dollars.
Utilities are becoming smarter each passing day and power grids are being modernized and made smarter across the globe with the help of new technologies - sensors, metering solutions and energy management systems. This change brings about variety of data sets that deliver deeper insights into the infrastructure’s operations and performance. These “smart grids” are generating unprecedented amounts of data — from energy production all the way to consumption — and connecting with various devices and systems, empowering all involved to enhance their energy efficiency.
So we got the data, now what?
This ocean of data is to provide insights on energy generation, transmission, distribution and consumption allowing utilities to effectively and efficiently manage the power grid in near-real time. With this, utilities gain significant visibility and control across the entire electric value chain which will open up plethora of opportunities for Utility industry:
Utilities can better forecast and plan to the consumer`s power needs, which in turn allows for better management and efficient use of precious natural and capital assets.
It allows companies to identify and isolate inefficient/faulty utility assets in the grid and help mitigate the impact that such faults have on the rest of the power grid. This will also help companies to pinpoint, patch and prevent outages
Communication technologies can enable a better understanding of how energy is consumed. Consequently, it can empower utilities to offer customers personalized energy tariff plans and offers suited to individual needs, deliver more accurate bills and incentivize customer to be more energy efficient and contribute back to the grid using solar technologies. For instance, to reduce peak hour load on the grid, REP (Retail Energy Providers) can introduce dynamic pricing to encourage usage during off-peak hours.
Just Imagine! How the world would be if these insights were available and used across the globe. With similar vision in mind, various Big Data organizations are already curating new solutions and economic opportunities helping consumers to easily and efficiently manage energy consumption, while making their homes more comfortable. Of course, it is of the utmost importance that privacy and security protections as well as customer choice are integrated into such offerings.
Closing Thoughts
It is important that we keep doing all those small things like switching off appliances when they’re not in use but upcoming technologies like big data analytics will allow us to dig details of our energy use, helping us optimize our energy utilization and ensure sustenance of future generations.
